Simply a good quality indicator. It helps me to understand what the market is doing. Suitable for different type of strategies. Thanks Panagiotis for such a useful tool
Weis Wave with Alert
**NEW Speed Index + Auto Volume Waves ****
How to trade with it: https://www.mql5.com/en/users/takisd/blog
Visit: http://www.tradethevolumewaves.com
Manuals: https://www.tradethevolumewaves.com/manuals
Youtube channel: https://www.youtube.com/channel/UCTAzhvsnzPppdqWJS-MWafQ
This is a Weis Wave indicator which is based on Richard D. Wyckoff theory. It works in all time periods, range bar and tick bar charts and it can be applied to any market.
This indicator is adding the volumes of the corresponding price waves and draws a cumulative histogram. Each price wave is moving in a specific direction up or down until it reverses. In order for the indicator wave to reverse in the opposite direction, the price should exceed the number of points (pip*10) set in the parameters. Therefore, the last wave repaints but the theory behind this trading method is forecasting where the market will go by reading the previous waves.
The volume of the wave together with pip distance that the price has covered and the number of bars are displayed. Speed Index is a new function shows the speed of the wave and can be displayed on the chart (the smaller this number is the faster the wave is and the larger this number is the slower the wave is)
Furthermore, an Alert (popup, email, push, sound) can be setup if the cumulative volume of the current wave exceeds a certain number specified in the parameters. An Alert can also be setup if Speed Index exceeds a specific value and/or is below a specific value.
Trading Strategies:
- Trend trading: trade with the trend on retracement levels if the volume of the retracement wave is insignificant.
- Too much volume but not significant price move: Something is going to happen, wait for the price to break a significant level and follow it (High Speed Index).
- Other strategies can be found on the internet.
Setup Parameters
- Difference: Number of points required for the current wave to reverse and form a new wave
- AutoDifference: true/false - Neglects the Difference parameter and adjusts the Difference automatically creating more accurate waves.
- AutoSensitivity: The higher the number the higher the sensitivity and therefore more waves are formed.
- Format Parameters for Auto Difference value displayed on chart as "WP Difference:xx" (Corner, Y offset, X offset, Font, Font Size)
- VolDivBy: Volume divider in order to avoid big numbers on the display
- PipDivBy: Pip distance divider in order to avoid big numbers on the display
- Negative_style: negative down waves
Weight Volume Parameters - Weight Volume According to Sessions London-US-Asia
- Weighted Volume: true/false - Weights volume of different sessions taking into consideration that when London and US are operating
at same time have the highest volume of all sessions occurs and adjusts the rest of the sessions. With this parameter it very easy
visualize which volumes are significant even on Asian hours or non-significant on London-US hrs.
Not to be used with constant tick charts.
Advanced Volume Filter
- Volume Filter: true/false - An advanced algorithm in order to emphasize on significant volume waves
Format Wave and Label parameters
- ShowLabels: Display or not the volume, the pips and the number of bars of each wave
- What to Display:1-Volume,2-Pips, 3-Bars, 4-All, 5-Volume and Pips
- ShowWaveLine: Draw the wave line or not
- Format parameters: LabelShift, Font size, Color Up Color down, wave color, wave width.
Alert Parameters
The info displayed by the alert function are: the pair, the period, a message “Hign Dn Volume” or “High Up Volume” and the time.
- TriggerCandle: The candle number that the alert will be triggered
- VolSize: The value of cumulative volume that will be triggered if the alert is exceeded
- Alerts: Popup, Sound, Email, Push
Speed Index Display and Alert Parameters
- ShowSpeedLabels: Show or not speed index
- SpeedAlert: Enable or not speed index alert - Speed Alert works on the previous wave - not the current which is forming.
- AlertFont: Font for speed index when criteria are met (in order to be more visible and differentiate from the rest of speed indices)
- SpeedIndexSizeSlowAbove: Trigger Alert if speed index is above setup number.
- SpeedIndexSizeFastBelow: Trigger Alert if speed index is below setup number.
- Alerts: Popup, Sound, Email, Push
Video
johnlyj
2019.06.11 14:51
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forix7
2019.03.25 11:10
#
Simply fabulous indicator and Panagiotis is a very helpful Author / Seller - this indicator is a must have for any serious trader, the alerts help you monitor wave pips and the download is perfect and trouble free, upgraded indicator is certainly worth paying for and also has many many different trading opportunites / strategies - All updates and programming are A1 and faultless which are a pleasure to work with in this indicator industry, never any problems and NO repainting - I could not trade without this now - thanks for sharing the GREAT work of yours - It paid for itself in 12 hours just testing it, thanks again :)
In addition to my review, i have just downloaded the updated AUTO version which is AMAZING - I no longer have to change the wave settings and can let the indicator do it for me automatically when switching time frames and charts, this indicator just gets better and better, thanks for your effort in updating it so it makes our lives easier, GREAT WORK
knightraider7
2019.01.15 04:33
#
This purchase was smooth and the indicator delivered exactly as it promised.
Version 5.9
2019.09.19
Added Daylight Savings
Version 5.8
2019.09.18
Adjusted weighted volume and added all bars weight.
Version 5.7
2019.08.13
Updated Speed Index, VolDivBy, PipDivby
Version 5.6
2019.07.29
New Algorithm for Weighted Volume and Adjustable Bars Back for Weight calculations
Version 5.5
2019.07.26
Show trade levels that were hidden in the previous version
Version 5.4
2019.07.18
Removed a print command.
Version 5.3
2019.07.18
Adjusted Autowaves
Version 5.2
2019.07.15
Adjusted Autowaves Algorithm
Version 5.1
2019.06.02
Display on chart AutoSensitivity parameter
Version 5.0
2019.05.28
1. New Auto Wave for more accurate waves and without adjusting when switching timeframes
AutoDifference: true/false - Neglects the Difference parameter and adjusts the Difference automatically creating more accurate waves.
AutoSensitivity: The higher the number the higher the sensitivity and therefore more waves are formed.
Format Parameters for Auto Difference value displayed on chart as "WP Difference:xx" (Corner, Y offset, X offset, Font, Font Size)
2. Adjustment of Labels shift.
AutoDifference: true/false - Neglects the Difference parameter and adjusts the Difference automatically creating more accurate waves.
AutoSensitivity: The higher the number the higher the sensitivity and therefore more waves are formed.
Format Parameters for Auto Difference value displayed on chart as "WP Difference:xx" (Corner, Y offset, X offset, Font, Font Size)
2. Adjustment of Labels shift.
Version 4.4
2019.05.24
1. Alignment of Labels when changing timeframes.
2. Added different volume wave coloring on bars to how many bars were needed until the move has exceeded the difference parameter.
2. Added different volume wave coloring on bars to how many bars were needed until the move has exceeded the difference parameter.
Version 4.3
2019.04.10
Add Negative Style = true/false changes the Histogram down waves to negative
Version 4.2
2019.03.31
Added parameters for Speed Index color and Speed Index Alerts color
Version 4.1
2019.03.21
Pip display adjustment
Version 4.0
2019.03.21
Added Advanced Volume filter: An advanced algorithm that filters volume in order to emphasize on significant waves
Version 3.2
2019.01.20
Fix Location of Labels on current wave forming
Version 3.1
2019.01.19
Fixed a bug on PipDivBy parameter
Version 3.0
2019.01.14
Major Update:
New functions added to the indicator
1. PipDivBy: Pips divider in order to avoid big numbers on the display
2. Ability to choose which labels to display: 1 - Volume, 2 -Pips, 3 -Bars, 4- ALL, 5- Volume and Pips
New Speed Index Display and Alert
Speed Index= Wave Volume/Pip Distance - which means how much volume was needed to move 1 pip. The smaller the number is the faster the wave is. The larger the number is the slower the wave is.
Alert functionality has been added if speed index is above a certain value and/or below a certain value.
Push Notification has been added on both Volume and Speed Index
New functions added to the indicator
1. PipDivBy: Pips divider in order to avoid big numbers on the display
2. Ability to choose which labels to display: 1 - Volume, 2 -Pips, 3 -Bars, 4- ALL, 5- Volume and Pips
New Speed Index Display and Alert
Speed Index= Wave Volume/Pip Distance - which means how much volume was needed to move 1 pip. The smaller the number is the faster the wave is. The larger the number is the slower the wave is.
Alert functionality has been added if speed index is above a certain value and/or below a certain value.
Push Notification has been added on both Volume and Speed Index
Version 2.2
2018.11.14
Adjusted weighted volume for JPY pairs.
Version 2.1
2018.11.14
Fixed a bug on weighted volume.
Version 2.0
2018.11.11
Added an option to Weigh Volumes according to Sessions. Considering that when London and US are operating at the same have the highest it adjusts the rest of the remain sessions (hours) accordingly to level them with London-US hrs.
Version 1.2
2018.08.28
Addition: The number of bars of each wave have been added on the wave label.
Version 1.1
2018.06.20
Changes on Alert Function
I have purchased weis wave with alert, No demand No supply, Weis pip wave , all MT4 products. These are very good 5-star indicators. And Panagiotis is generous and extremely helpful in explaining the proper ways of using these indicators. These indicators are must haves for chart reading. I strongly recommend his products.